‘Post-merger with associate banks, SBI opens as one bank’

Mumbai: Post-merger of five associate banks, the State Bank of India opened as one bank with 500 million customers and started normal operations from Monday, SBI Chairperson Arundhati Bhattacharya announced here.

The associate banks which merged with the SBI are State Bank of Patiala, State Bank of Bikaner and Jaipur, State Bank Of Hyderabad, State Bank of Mysore and State Bank of Travancore.

“The SBI opened as ‘one bank’ today (Monday) and will continue to operate in the same manner as before post-merger,” Bhattacharya told the media.

The treasuries of the SBI and associates have also been completely integrated and have now started work as a single entity, she added.

With the merger, SBI is now catapulted among the top ranking 50 banks in the world in terms of assets.